Realtor confronts HOA for trashing open house signs

After the call, Sibbach’s business partner, Phil Sexton, went to Desert Ridge to check on other for-sale properties and found a landscape worker piling open house signs into the back of a pick-up. Sexton filmed his interaction with the worker who said the Desert Ridge HOA hired him to collect the signs that didn’t follow the association’s guidelines. After his conversation with the landscapers, Sexton sent a number of emails to Desert Ridge Community Association residential community manager Carmello Mussara to get clarification about open house sign guidelines. In the first email to Mussara, Sexton attached the two types of signs The Sibbach Team uses and asked if the kinds of A-frames they used were within regulation. Two days later, on December 29, Sexton reached out to Mussara again asking for a list of written rules since he had an open house scheduled for that weekend and didn’t want to risk having his signs confiscated again. This time, Mussara said, “the only signs permitted in Desert Ridge are the angle iron signs as directed by the sign ordinance in accordance with the state statutes.” He also said all signs must list the brokerage’s name and information and cannot say “open house” only. Your email stated they are not allowed to block sidewalks. “In Arizona, they’re [HOA] allowed to make up rules and then you have to follow them,” Sibbach told Inman in frustration According to Arizona law, HOAs must follow these rules regarding signage regulation: HOAs cannot require the usage of open house signs. HOAs cannot restrict the usage of open house signs that follow these requirements: The sign must be commercially produced. You think more demand for the subdivision hurts the value?” “By restricting me, you’re essentially restricting demand,” Sibbach finished.

HUD awards $2 billion to homeless assistance programs

The U.S. Department of Housing and Urban Development announced Thursday it awarded a record $2 billion to homeless assistance programs across the nation. The money, awarded by the department amid budget cuts, will be divided among 7,300 local homeless assistance programs under HUD’s Continuum of Care program, which grants support to local programs serving individuals and families experiencing homelessness. “HUD stands with our local partners who are working each and every day to house and serve our most vulnerable neighbors,” HUD Secretary Ben Carson said. “We know how to end homelessness and it starts with embracing a housing-first approach that relies upon proven strategies that offer permanent housing solutions to those who may otherwise be living in our shelters and on our streets.” HUD continues to challenge state and local Continuums of Care to support their highest performing local programs that have proven most effective in meeting the needs of persons experiencing homelessness in their communities. HUD announced many of these planners also embraced it’s call to shift funds from existing underperforming projects to create new ones that are based on best practices that will further their efforts to prevent and end homelessness. “Continuums of Care are critical leaders in the work to end homelessness nationwide,” said Matthew Doherty, U.S. Interagency Council on Homelessness executive director. “When communities marshal these, and other local, state, private, and philanthropic resources, behind the strongest housing-first practices, we see important progress in our collective goal to end homelessness in America.” HUD Continuum of Care grant funding supports an array of interventions designed to assist individuals and families experiencing homelessness, particularly those living in places not meant for habitation, located in sheltering programs, or at imminent risk of becoming homeless. In HUD’s 2017 Annual Homeless Assessment Report to Congress, the department found 553,742 people experienced homelessness on a single night in 2017. This is up .7% from the year before. But now, HUD hopes to reverse that trajectory with this new funding and other efforts it made throughout its first year under the new administration.

Diversify Your Portfolio And Invest In Real Estate

For most real estate investors, these investments are characterized as income-generating properties that see revenue from rent earned and capital appreciation from the increase in market value. Unlike residential homes that get their value from comparable sales, income-generating real estate value is calculated as the annual NOI multiplied by an industry standard rate of return, called the capitalization rate. Since NOI is calculated after expenses and both property value and return on investment are depended on NOI, it is important to maximize income and minimize expense. There is very little that an investor can do to mitigate the risk of market increase or decrease. Since Section 8 units are in demand, these rent amounts are a safe low-end income value for your property. A low investment amount and high revenue make for a good return on investment. Bank-owned and government-owned homes often offer properties at amounts under market value. These properties are generally in disrepair, so rehabilitation costs should be factored into the price equations. Important Correlations As an alternative investment, real estate is historically poorly correlated to the stock market, making it a good investment to diversify a portfolio. Real estate is positively correlated to inflation, meaning that it generally increases in value as inflation increases.

10 ways to generate more real estate business

Looking for more ways to get real estate business and build your client database? Real estate author Ryan Snow shared 10 of the top ways to bring in business and boost sales on a recent podcast with Pat Hiban. Read on to discover what Snow recommends to real estate agents who need new real estate clients. To hear more of Ryan’s money-making ideas, including a way to generate $50,000 passively, listen to the podcast interview below. https://traffic.libsyn.com/hibandigital/Ryan_Snow2.mp3 The best ways to get real estate business Sphere of influence (SOI) SOI is one of the best sources of real estate business, especially for new agents. Be sure to add friends and family members to your database if you haven’t already. Just-sold scripts Selling homes is great for generating more business. Prospecting is so much easier when you’ve just sold a highly visible home in the area. Vender networks Creating relationships with local vendors is a good way to get ...

How to Declutter Your Bedroom So It’s No Longer a Disaster Zone

Just follow these steps for a better night's rest! If your table has drawers, use them to store whatever else you need handy when you’re in bed. Put that into your to-do bin. Now it’s time to fold everything and put it all away—which is hopefully easier now that you’ve gotten rid of so much. Consider putting framed photos on the wall above your dresser. We hang a small clothes rack above our laundry hamper. How to make your bed the lazy way A quick way to instantly transform your bedroom is to make your bed already—but what if making your bed isn’t so quick, what with all the blankets and sheets and accent pillows? Should you store things under the bed? On the one hand, if you happen to have the kind of bed with space underneath, it makes a very convenient storage space. Use this space wisely by storing things only if they fit in a storage bin in the same category as whatever you've already got there.

Re/Max: Real estate expected to boom in 2018

After a year of rising home prices, low inventory levels and ongoing homebuyer demand, these conditions will increase even more in 2018. As the year begins, one expert breaks down some of the major trends to come in 2018, saying the year will bring an abundance of positive trends. “Turn up the volume on new home building,” Re/Max Co-CEO Adam Contos said, citing housing starts that are down 2.9% year-over-year and well below the historic 50-year average. “We’d love nothing more than to see the next generation of homebuyers start building equity now.” Contos gives these four predictions for 2018: 1. Inventory is key Contos explained that the volume on new home building will increase, but until that happens, the market will struggle with low inventory and some markets will feature all-out bidding wars. Changing migration patterns Home buyers discouraged by affordability and low inventory in certain cities, markets and states, will look to other, more attractive and more inviting neighborhoods. Contos said he expects to see more home sales in the suburbs, less-populated markets and even more affordable states. Always the unexpected Gadgets, apps, online tools, real estate agents and technology – anything that makes buying and selling a home more plausible and less stressful will continue to launch and evolve, especially in 2018. “We’ll certainly see our share of challenges in 2018,” Contos said. “But with the challenges will come ecstatic home buyers and sellers, new and booming communities, one boasting the new Amazon headquarters, and fresh innovations in real estate that we never saw coming.” To see more forecasts for 2018, click here.

Wildfire insurance out of reach for many Californians who need it

California homeowners located in areas most vulnerable to wildfires are finding it increasingly difficult to find or afford wildfire insurance, according to a December 2017 report by the California Department of Insurance (CDI). Since wildfires in the state claimed 3,000 structures including 1,700 homes in September 2015, CDI has seen a rise in complaints from homeowners in high-risk areas that insurance has been unaffordable or difficult to obtain. “Insurers are increasingly using computer models to assess the risk of fires for individual homes and deciding that homes in some areas face too high a risk,” said California Insurance Commissioner Dave Jones in a statement. The legislature has given insurers broad latitude to decide whether and where to write fire insurance; therefore we are recommending new laws to improve fire insurance availability.” The extensive wildfires also present growing challenges for homebuilders in a state desperately in need of more housing. “Add to the equation, increasing development in areas more vulnerable to fire and you can see why wildfires are now an everyday threat to life and property for Californians.” According to realtor.com’s director of economic research, Javier Vivas, after the initial “darker picture” of last year’s wildfires, positive changes can come out of the events for the real estate industry. “It could enhance affordability and get other areas thinking about ‘how do we better tackle what buyers want,'” said Vivas. The state has big populations centers and a strong economy but imbalanced supply and demand for housing, which has pushed prices to a certain level. “Our hope is that we will see new construction pop up pretty quickly, not just in the North Bay but down in Southern California where there is also a big population,” said Vivas, who is based in Santa Clara, California. Vivas is hoping there will be more discussion about what kind of housing stock is needed by cities such as Santa Rosa, which lost over 5,000 homes in the North San Francisco Bay wildfires. “The market definitely needs housing supply in the mid to low end,” said realtor.com’s director of economic research.

3 Reasons You Should Consider a Duplex as Your First Home Purchase

When most people think about buying their first home, a nice little brick house with a white picket fence comes to mind. And while there’s nothing wrong with this, maybe you should actually be thinking about a duplex. Duplexes are everywhere, and they can be extremely wise investments in certain situations. While you probably don’t want to buy a duplex if you have a family with kids, it’s perfect for someone who is young and single (or newly married). Here are a few of the benefits you’ll get to enjoy. Mortgage Benefits Before you can even consider buying a duplex, you have to get your financing squared away. Early in your search, you can work with a mortgage professional to get prequalified and search for homes within your wants, needs, and budget.” What you’ll find is that a duplex may actually help your mortgage situation, if you plan on renting out the other half. For example, let’s say the mortgage on a duplex is $1800 per month, but you can rent out one half for $1,000. Give Yourself a Financial Headstart When it comes to buying your first house, perspective is key. Think about the pros and cons, weigh them against each other, and determine whether or not a duplex will work in your situation.

The #1 Little Known Way I Find Cheap Real Estate Deals

I was able to acquire all of the properties using various strategies, but one in particular that I really like to talk about is using Craigslist. In 2014, over the span of about five months, I was able to acquire 34 properties, and I did it by stalking Craigslist every single day. How to Find Deals on Craigslist Now, what you have to do is first have enough capital to acquire a property with cash because a lot of the properties listed on Craigslist are very distressed, rundown, and may have back taxes or a tax lien. Within your zip code, you should know what un-renovated properties are selling for, what renovated properties are selling for, the prices that wholesalers list properties for in that area, who the top performing real estate agents in the area are, and who the top real estate investors flipping deals in the area are. Your network equals your net worth, so make sure you immerse yourself with the numbers and surround yourself with the right people so you truly become an expert in that particular area or zip code. Related: The $30k Rental Property: How to Finance & Profit From Cheap Real Estate So, first, we have the capital, meaning we’ve got the cash to acquire the properties. Once they pop up, because you are a true expert in that particular area, you’ll know if it’s a good deal. That is how I was able to acquire 34 properties in 2014. I knew the numbers in the area, I had the cash to make the deals happen, I was good at negotiating, I worked hard, and I stalked Craigslist every single day. A deal popped up, I was on the phone, I inspected the property, I committed the down payment, I called the title company and signed the contracts, and I closed on the contracts within seven days.

The One Critical Question Investors Forget to Ask When Shopping for Rentals

The numbers matter more than anything, but location will determine whether or not the projected numbers will hold up. Well, you can probably rent it out, but will you have to dramatically decrease the rent or take on subpar tenants just to do it? I believe there are two factors that are absolutely crucial for a rental property to continue to cash flow: The numbers The tenants The market itself plays a role in this too, but numbers and tenants are the most direct impactors in my opinion. However, get this: The only tenant I could find for it was a Section 8 tenant. If you are shopping for a rental property and you’ve run the numbers and the market and neighborhood look good, then these are the rentability questions you need to be asking. A real estate agent may also be able to answer these questions, especially the one who is trying to sell you the property, but typically real estate agents aren’t constantly dealing specifically with rental properties day in and day out for years at a time. Why You Should Enlist the Help of a Property Manager Property managers are truly in the grit of rental properties in a certain area. It isn’t usually kosher to call an agent or property manager up and ask them for an assessment of something without offering to pay them for their time. If you want to know how much a particular property is likely to garner rental income, an agent or manager can run the rental comps in the area and make a best guess based off of those on what a particular property may be able to realistically get. A property manager is likely going to have a general numbers feel for you, even outside of a CMA.

TRENDING

ADP predicts solid jobs increase in July

ADP predicts solid jobs increase in July. Employment is set to increase in July, though slightly lower than last month’s increase, according to the ADP and Moody's Analytics National Employment Report. ADP predicts employment will increase by 178,000 jobs in July, up from last month’s predicted 158,000 jobs, but down from the actual employment report’s 222,000 jobs. The chart below shows July’s prediction compared to the predictions from previous months, however ADP doesn’t always have the best record. Click to Enlarge But while the report’s predictions each month may be spotty, the chart below shows it generally follows the same trend as nonfarm private employment. Click to Enlarge “Job gains continued to be strong in the month of July,” said Ahu Yildirmaz, ADP Research Institute vice president and co-head. “However, as the labor market tightens employers may find it more difficult to recruit qualified workers.” The goods-producing sector is set to increase as a decrease in manufacturing jobs partially offsets the increase other areas, including construction: Natural resources and mining: Increase 3,000 Construction: Increase 6,000 Manufacturing: Decrease 4,000 The service-providing sector is set to increase by 174,000 jobs, with changes in these areas: Trade, transportation and utilities: Increase 24,000 Information: Increase 8,000 Financial activities: Increase 13,000 Professional and business: Increase 65,000 Education and health: Increase 43,000 Leisure and hospitality: Increase 15,000 Other services: Increase 5,000 “The American job machine continues to operate in high gear,” Moody’s Analytics Chief Economist Mark Zandi said. “Job gains are broad-based across industries and company sizes, with only manufacturers reducing their payrolls. At this pace of job growth, unemployment will continue to quickly decline.”
the future of the note investment industry

What Does the Future Hold?